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Liverpool owners FSG could seal ‘dream’ takeover amid £1.7bn twist as Michael Edwards leads talks
Fenway Sports Group are about to enter their third cycle as owners of Liverpool, with the post-Jurgen Klopp era still really in its infancy.
Mohamed Salah and Virgil van Dijk may be set to stay at Anfield but Arne Slot and Richard Hughes know that a changing of the guard is on the horizon.
Trent Alexander-Arnold looks as though he will be the latest protagonist of the Klopp era leave Liverpool, following on from Jordan Henderson, Roberto Firmino, Fabinho, Sadio Mane and more.
Others could follow him out of the door this summer and, after a modest season as far as the transfer market is concerned, FSG will spend to bolster the squad.
The contingent that Slot goes into 2025-26 with will be looking to defend a Premier League title, with Liverpool now just one result away from a second domestic crown of the FSG era.
It is symbolic in some ways that they have the opportunity to win the title against Tottenham, a club who profess to have an analogous business model but haven’t executed it a fraction as well as Liverpool.
Both Daniel Levy’s ENIC regime and FSG on Merseyside have put very little money into their respective clubs, in relative terms at least.
Spurs have have received equity injections of less than £200m in total from ENIC, while the only money FSG have invested in Liverpool since their takeover in 2010 has been to fund upgrades to Anfield.
Even then, that money came in the form of interest-free loans.
Both clubs’ revenue has soared over the last 15 years but only one, Liverpool, has metabolised that into silverware – and lots of it.
And with a new era in the post, FSG are looking to reinforce their position with what could be their biggest investment to date.
FSG could exploit RedBird link for Toulouse takeover
The multi-club route is elite football’s go-to ownership model – and Liverpool want in.
They have reportedly considered around 80 different clubs to take over, who would act either as a sister or subsidiary – but likely the latter – to Liverpool themselves.
Last summer, FSG pulled out of talks to buy Bordeaux, a historic French side who have suffered administrative relegation and fallen into the lower leagues.
Now, another famous French side is for sale. Crucially, FSG could exploit one of their closest business relationships to make a deal happen.
Toulouse are owned by RedBird Capital, who also happen to be a significant shareholder in FSG.
As reported , RedBird are considering divesting their interest in football, meaning Toulouse are now for sale. Incidentally, they were nearly sold to another FSG-linked company, Otro Capital, last year.
They fit the profile that FSG are looking at, so could they enter the bidding?
“I think there are bargains in French football relating to the implosion of the broadcast rights,” says University of Liverpool football finance lecturer Kieran Maguire, speaking exclusively to TBR Football.
“The domination of PSG means other clubs are scrapping for attention. FSG’s acquisition of Liverpool looks like the smartest bits of sports-related investment of the century and they know how to spot a bargain.
“They will do their homework and I can see them making a move if the price is right. The benefits of the multi-club of the come into play.
Bargains available for Liverpool as Ligue 1 TV deal in crisis
Ligue 1 is in crisis, with primary broadcaster DAZN wanting to massively scale back its £1.7bn four-year TV deal.
The media company feels it isn’t getting good enough value for its fee, leaving French clubs potentially without their biggest single source of revenue.
Many have predicted a mass exodus of owners as a result, but it may also mean big-name teams are available on the cheap.
- READ MORE: Trent Alexander-Arnold to stay on FSG owners’ payroll even if he quits Liverpool for Real Madrid
Multi-club project was the reason Michael Edwards returned to Liverpool
Anyone who has met Michael Edwards always has the same take-aways – forensic, strategic and innovative, which makes him the perfect fit to establish a multi-club network.
“That was the dream when they reappointed Michael Edwards in the summer,” says Maguire.
Previously, Edwards was Liverpool’s sporting director. Now, the former Portsmouth analyst is chief executive at Anfield.
It’s a position that requires him to manage FSG’s football budget, and it is he who will steer the search for a new multi-club partner too.